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Posts from ‘June, 2007’

Coaching Tip: Reputation is a big reason Exxon Mobil trades at a much higher price-earnings ratio than Royal Dutch Shell

Headline: The Power of Perception Consumers are flooded by corporate marketing campaigns linking to social issues.  Indeed, the public now expects just about every company to be allied with a cause, according to Carol Cone, whose brand-strategy firm recently conducted a survey on cause-related marketing.  The best corporate reputation belongs to Microsoft Corporation, according to […]

Bloomberg: Gazprom May Develop Sakhalin-3 Oil, Gas Project With Rosneft

By Greg Walters June 29 (Bloomberg) — OAO Gazprom, Russia’s natural-gas export monopoly, may form a joint venture with the oil company OAO Rosneft to develop the Sakhalin-3 offshore oil and gas project, Gazprom Chairman Dmitry Medvedev said. Gazprom and state-controlled Rosneft agreed in late 2005 to bid jointly for oil and gas fields at […]

ThisDayOnline: Malabu Files Objection to Shell’s Suit

By Chika Amanze-Nwachuku, 06.30.2007 Malabu Oil and Gas, a company owned by former Minister of Petroleum Resources, Chief Dan Etete yesterday disclosed that it had filed a preliminary objection to a suit brought by Royal Dutch Shell against the Oil Prospecting Licence (OPL245) re-allocated to it by the Federal Government. It said it would resist […]

Bloomberg: Gazprom Doesn’t Plan to Buy Stake in Exxon Mobil’s Sakhalin-1

By Joe Carroll and Greg Walters June 29 (Bloomberg) — OAO Gazprom, the Russian energy company that seized control of $8.5 billion in projects from Royal Dutch Shell Plc and BP Plc, doesn’t expect to buy a stake in Exxon Mobil Corp.’s Sakhalin-1 oil and gas development. Deputy Chief Executive Officer Alexander Medvedev told shareholders […]

Daily News (Canada): Shell proposed refinery to undergo EA

Saturday, June 30, 2007   Shell Canada will proceed with an environmental assessment of its proposed new refinery near Sarnia, Environment Minister Laurel Broten has announced. The Minister has approved the company’s terms of reference, which is a work plan for an environmental assessment. It outlines the steps and studies Shell will undertake to identify […]

N.J. SUES FOR DAMAGES TO NATURAL RESOURCES CAUSED BY POLLUTION

(The following is a reformatted version of a press release issued by the New Jersey Department of Environmental Protection and received via electronic mail. The release was confirmed by the sender.) June 29, 2007 STATE FILES LAWSUITS SEEKING COMPENSATION FOR DAMAGES POLLUTERS CAUSED TO NATURAL RESOURCES TRENTON – The state has filed approximately 120 lawsuits […]

Africa Path: Nigeria: US Marines, AFRICOM & the Niger Delta

June 29, 2007 04:10 PM   Recently the National Geographic magazine published a feature piece on the Niger Delta “Curse of the Black Gold: Hope and Betrayal in the Niger Delta“. For those familiar with the issues of the Niger Delta there was really nothing that has not been reported by human rights environmental activists […]

The Bakersfield California: State still waiting for Shell to act

Water table below Bakersfield refinery remains contaminated BY STACEY SHEPARD, Californian staff writer e-mail: [email protected] | Friday, Jun 29 2007 11:15 PM Last Updated: Friday, Jun 29 2007 11:18 PM Shell Oil shut down a soil cleanup operation at the Rosedale Highway refinery two years ago and hasn’t restarted it despite repeated requests from the […]

Petroleum News: Commissioner to make final consistency decision for Shell’s Beaufort drilling

NSB issues challenge By Alan Bailey Vol. 12, No. 26  Week of July 01, 2007 The clock continues to tick toward Shell’s planned start for its summer 2007 drilling program at its Beaufort Sea Sivulliq prospect, which is on the western side of Camden Bay off Alaska’s North Slope. But on June 25, in a […]

Philippine Daily Inquirer: Pilipinas Shell to open 50 new stations nationwide

Published: Jun 30, 2007 AS COMPETITION FURTHER stiffens, Pilipinas Shell Petroleum Corp. is planning to add another 50 stations to its nationwide network and give existing ones a facelift. The oil firm hopes to increase its 33-percent share of the retail market. Sammy de Guzman, Shells vice president for retail, said the oil firm would […]

Financial Times: Carbon capture proving commercially unviable

By Ed Crooks Published: June 30 2007 03:00 | Last updated: June 30 2007 03:00 Royal Dutch Shell and Statoil, Norway’s nationaloil company, have dropped ambitious plans for a demonstration project to capture carbon dioxide emitted by a power station and inject it under thesea, saying it was technically feasible but not commercially viable. The […]

Financial Times: Footsie recovers but caution reigns for property groups

By Neil Hume and Robert Orr Published: June 30 2007 03:00 | Last updated: June 30 2007 03:00 EXTRACT Royal Dutch Shell enjoyed further gains. Up 2.6 per cent on Thursday after Morgan Stanley said the company was undervalued by £60bn, shares in the energy group gained a further 1.1 per cent to £20.83 thanks […]

The Guardian (UK): Market Forces

Nick Fletcher Saturday June 30, 2007 Oil companies were also in focus as the crude price hovered around $71 a barrel. Royal Dutch Shell, which Morgan Stanley reckons could be undervalued to the tune of a whopping $120bn, added 29p to £20.34. Credit Suisse chipped in yesterday, raising its earnings forecast by 2% for 2008 […]

Daily Telegraph: Market report: Equities end the week in Rock-solid fashion

By Yvette Essen Last Updated: 2:48am BST 30/06/2007 Royal Dutch Shell was the subject of a second bullish note in as many days. Credit Suisse repeated its outperform rating on the shares, saying: “ We believe that management still has more options to maximise shareholder value and that the shares look too cheap.” Raising its […]

The Times: Need to Know: Energy

June 30, 2007 Up 1.60% BP A consortium led by the UK oil giant will be investing $5 billion (£2.49 billion) to develop the Skarv and Idun oil and gasfield in the Norwegian Sea. BP holds a 24 per cent stake in the project. Partners include Statoil, Royal Dutch Shell, ExxonMobil Corp and Norsk Hydro. […]

Dominican Today: Dominican Shell scandal: fuel figures were hidden since 2004

SANTO DOMINGO. – Shell’s representatives in the Dominican Petroleum Refinery’s (Refidomsa) governing board have prevented the Government’s attempts to know the figures on fuel purchase costs and marketing since 2004. The members that represent Shell in the governing board rejected the first attempt to control Refidomsa’s purchase and fuel sales in a meeting in October, […]

Community Press – Florence,KY,USA: Solving the mystery of the Shell commercial

Television commercials will probably be around for a long time to come, since they help to defray the cost of the programming that we enjoy, and few of us would be willing to pay the subscription fees that would be necessary if advertisers didn’t pick up the tab. Some commercials are inane (business owners and […]

San Jose Mercury News: Oklahoma couple wins $105.8M Powerball

Don and Joyce Harvey smile during a news conference in Oklahoma City, Friday, June… (AP Photo ) By RON JENKINS Associated Press Writer Article Launched: 06/29/2007 08:48:20 PM PDT OKLAHOMA CITY—Don Harvey’s long-haul truck had almost 2 million miles on it when its engine died this week. Now, he’s planning to ride the road in […]

CNNMoney.com: Royal Dutch Shell plc : Voting Rights and Capital

June 29, 2007: 11:57 AM EST LONDON, June 29 /PRNewswire-FirstCall/ — In conformity with the Disclosure and Transparency Rules, we hereby notify the market of the following: Royal Dutch Shell plc’s capital consists of 3,657,843,000 A shares and 2,759,360,000 B shares, each with voting rights. Royal Dutch Shell plc holds no ordinary shares in Treasury. […]

Daily Express (UK): Shell’s ‘hidden’ £60bn sparks bid talk

Market Report by David Shand 29 June 2007 SPECULATION of a big takeover in the oil sector was fuelled yesterday by a leading broker suggesting industry giant Shell was undervalued by £60 billion. Morgan Stanley claimed the “valuable businesses” of the oil super majors had been obscured by their conglomerate tag. It added: “Waiting for […]

AP Worldstream: Oil boom, shifting global politics give Africa its best chance in decades

EDWARD HARRIS Published: Jun 29, 2007 Europe’s great powers once scrambled for dominance across vast, underdeveloped African lands rich in raw resources, including the scarlet palm oil used to grease the first cogs of the industrial revolution. A century later, a new group of nations are competing for a different valuable, viscous material, with Sub-Saharan […]

Daily Telegraph: Royal Dutch Shell enjoys City upgrades

By Yvette Essen, Stock Markets Reporter Last Updated: 12:11pm BST 29/06/2007 Royal Dutch Shell was the subject of a second bullish note in as many days, causing the shares to become one of the biggest blue-chip risers in a unsettled market. Credit Suisse repeated its outperform rating on the shares, saying: “Although much of the […]

fxstreet.com: The Energy Report (NO): The Axis is spinning

Fri, Jun 29 2007, 14:26 GMT by Phil Flynn Alaron What is the biggest threat to the world energy markets and the future security of all oil consuming nations? It is of course the “Axis of Oil”. And it seems as the weeks go on the “Axis of Oil” is spinning its errors faster and […]

OilOnline: DONG Energy transports Shell natural gas

Friday, June 29, 2007 DONG Energy and Shell have signed a one-year agreement for the transportation of natural gas by Shell from the Danish Tyra field to the Danish market via DONG Energy’s North Sea offshore pipelines. Shell will begin to transport natural gas through DONG Energy’s offshore pipelines from 1 July 2007. By virtue […]

New Europe: UK not to ignore human rights and democracy over energy

KAZAKHSTAN Interview with: Paul Brummell 29 June 2007 – Issue : 736   UK ambassador to Kazakhstan Paul Brummell talks to New Europe * Today, the United Kingdom is the third largest investor into Kazakh economy. The British companies are mainly active in the oil and gas sector, where the United Kingdom has been traditionally […]

SHELL COMPLETES WELL AT ONYX SOUTHWEST GAS DISCOVERY IN NORWAY

(The following is a reformatted version of a statement issued by Norway’s Petroleum Directorate, obtained at http://www.npd.no. The statement was not confirmed with the sender.) Delimitation of gas discovery in the Norwegian Sea Press Release 24/2007 June 29 — A/S Norske Shell, operator of production licence 255, has concluded drilling of appraisal well 6406/9-2 on […]

Reuters: BP files $5 billion Norwegian Sea oil and gas plan

Fri Jun 29, 2007 11:07 AM BST OSLO, June 29 (Reuters) – Britain’s BP (BP.L: Quote, Profile , Research) delivered to Norwegian authorities on Friday a $5 billion plan for development and operation of the Skarv and Idun oil and gas fields in the Norwegian Sea, the company and officials said. The production start-up is […]

Dow Jones Newswires: BP Files $5 Billion Norwegian Skarv Oil And Gas Project Plan With Government

June 29, 2007: 06:55 AM EST STOCKHOLM -(Dow Jones)- The Norwegian ministry of petroleum and energy Friday said a consortium of oil companies led by BP PLC (BP) has submitted a plan to develop the Skarv and Idun field in the Norwegian Sea. In a separate statement, BP said the estimated cost of the project […]

Bloomberg: Shell Says Chemical Makers Encounter `Fierce’ China Competition

By Trisha Huang June 29 (Bloomberg) — Competition among petrochemical makers is “fierce” in China where foreign companies investing in the country have to battle dominant domestic suppliers, said Royal Dutch Shell Plc, Europe’s largest oil company. “China’s domestic companies remain dominant producers and sellers in key markets,” Yu Dai, Shell International Eastern Petroleum Pte’s […]

Reuters: Statoil, Shell shelve Draugen field CO2 injection

Fri Jun 29, 2007 4:07AM EDT (Reuters) – Energy groups Statoil and Shell have dropped plans to bury carbon dioxide (CO2) in the seabed beneath Shell’s Draugen field in the Norwegian Sea to enhance oil recovery because it is uneconomical, the companies said on Friday. The companies reached that conclusion in a joint feasibility study […]

AFX News Limited: Statoil to increase Snorre field oil recovery to 55 pct from 45 pct

06.29.07, 4:55 AM ET   OSLO (Thomson Financial) – Statoil ASA said it is to boost the recovery of oil from its Snorre field in the North Sea to 55 pct from 45 pct, or by an extra 66 mln barrels, by investing 1.4 bln nkr in new technology and equipment. ‘Snorre is one of […]

AFX News: Statoil, Shell scrap ‘carbon capture’ plans

Published : Fri, 29 Jun 2007 09:04   OSLO (Thomson Financial) – Norwegian oil group Statoil and Britain’s Shell said they are scrapping plans to use carbon dioxide (CO2) to increase oil production. An evaluation showed that ‘although the value chain is technically feasible, it is not commercial viable,’ Statoil said in a statement. The […]

Gulf-Times (Qatar): India fuel prices may be due for increase

EXTRACT: Royal Dutch Shell has a license for 2,000 fuel stations, yet it has set up just 32 fuel stations. Published: Friday, 29 June, 2007, 01:56 AM Doha Time  By Nidhi Verma NEW DELHI: A rebound in global oil prices to 10-month highs may force India into another small yet unpopular fuel price increase next […]

China Knowledge: Shell’s sixth plant to be built in Guangdong

Jun. 29, 2007 (China Knowledge) – Royal Dutch Shell plans to construct its mainland sixth lubricant-blending plant in Zhuhai, Guangdong province in order to tap on the rising demand in South China.  Shell’s latest addition is set to help capture the fast growing auto market in China, which reported an increase of 21% in passenger […]

Financial Post (Canada): PetroCan, partners sink $33.4B into oilsands

Biggest investment yet in sector ends Fort Hills doubts Claudia Cattaneo And Jon Harding, Financial Post Published: Friday, June 29, 2007 CALGARY – As oil prices sailed past a nine-month high of US$70 a barrel yesterday, Petro-Canada and its partners pushed forward with Canada’s largest oilsands investment yet: a $33.4-billion oilsands-mining venture they said can […]

Monsters & Critics: Some oil firms leave New Orleans – but others stay

By Bruce Nichols NEW ORLEANS – The boom in Gulf of Mexico oil exploration since the 1970s made New Orleans a hub of the U.S. energy industry, but the devastation caused by Hurricane Katrina in 2005 has led some oil companies to move out, a mini-exodus that could grow. A recent survey by New Orleans […]

The Herald (Scotland): From isolation to a place on the world stage

CALUM MacDONALD June 29 2007 BRITAIN’S relationship with Libya has changed dramatically in the last four decades. When PanAm flight 103 exploded over Lockerbie in 1988, the Middle East nation was already regarded as a pariah state. Colonel Gaddafi’s aggressive Arab nationalism and the expulsion of American oil firms from Libya had set him on […]

Farmers Guardian: Will bio-ethanol from corn be ‘boom and bust’?

  29 June, 2007 Viewpoint: By Liz Walker Here, in western America, petrol prices are going through the roof.  Every TV station carries pieces where hard-up, hard-working people tell us just how difficult their lives are because gas is now three dollars 50 a gallon. In Britain we pay nearer eight dollars, but the comparison […]

kutv.com (Salt Lake City): Oil Shale Exploration Lease Granted On Gov Land

SALT LAKE CITY The federal government issued a lease on Thursday to a partnership that wants to open an abandoned oil shale mine in eastern Utah. The Interior Department issued the 10-year lease to Alabama-based Oil Shale Exploration Co., for Utah’s only oil-shale experiment on federal land. Last December, the department leased other 160-acre parcels […]

Dow Jones Newswires: UPDATE: Putin Spokesman: Kremlin Not Involved In Sakhalin Row

June 28, 2007: 12:13 PM EST (Updates with more quotes, background.) NEW YORK -(Dow Jones)- A spokesman for Russian President Vladimir Putin said Thursday the Kremlin isn’t involved in a disagreement between the state- controlled natural gas monopoly and Exxon Mobil Corp. (XOM) over a multibillion- dollar, offshore energy venture. “It will be wrong to […]